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UPDATE 2-Advent to buy Maxar Technologies for about $4 bln

Reuters
Updated ·1 min read

(Change sourcing)

Dec 16 (Reuters) - Maxar Technologies Inc said on Friday private-equity firm Advent International has agreed to buy the satellite owner and operator for about $4 billion.

Shares of Maxar more than doubled in premarket trading.

Under the agreement, Advent will pay $53 a share for Maxar, representing a premium of nearly 129% over the stock's last closing price.

Westminster, Colorado-based Maxar, which has a market cap of $1.72 billion, is a satellite imaging company that observes changes on Earth and analyses data. Images of the battlefield in Ukraine are often provided by Maxar.

The company's customers include the U.S government, Telesat and TomTom, among others. (Reporting by Tiyashi Datta in Bengaluru; Editing by Sherry Jacob-Phillips and Krishna Chandra Eluri)